South Korea Fines Bithumb 210M Won For Unauthorized Overseas Data Transfers

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South Korea fined Bithumb $136,000 for unauthorized overseas user data transfers. Regulators found user information was shared abroad without proper consent procedures. New blockchain privacy guidelines increase compliance obligations for crypto firms. South Korean regulators have fined cryptocurrency exchange Bithumb for transferring user information overseas without obtaining proper consent. The penalty reflects growing regulatory scrutiny […] The post South Korea Fines Bithumb for Sharing User Data Without Consent appeared first on Live Bitcoin News.

The fine comes after an investigation concluded that Bithumb shared information with many overseas exchanges in violation of laws intended to protect user data.

South Korea fined Bithumb 210m won for sending user data overseas without consent and ordered fixes as blockchain privacy rules expand now.